Question

To ask the Secretary of State for Business, Innovation and Skills, what steps his Department has taken to ensure maximum financial benefit to the public purse from the sale of Royal Mail.

The objectives for the recent sale of Royal Mail shares, as set out in the Secretary of State’s report to Parliament on 8 June 2015 (Royal Mail: Sale of Shares), included delivering a “financial outcome for the tax payer that represents overall value for money”.

To achieve this, the Department was supported by advice from its independent financial adviser, Rothschild, on the fair value of the company. Rothschild conducted a wide ranging analysis of the value of Royal Mail. The price per share achieved in the recent sale realised value for money for the tax payer.